Looking for a cost effective and scalable Mining tech Company? Consider Fulcrum Metals
“…We’re replacing high emission gold production from mines with very low emission gold production from tailings…”
There’s the delight and the detritus associated with gold exploration. The exhilaration of the find, but the ‘what do we do with the rest’ conundrum.
The ‘rest’ is the waste or the tailings, and for some countries this has become a huge environmental concern. According to Ryan Mee, the chief executive of Fulcrum Metals the Canadian government has an estimated $10 billion worth of liabilities to clean up the old mine sites and gold-related garbage dumps.
Mee should know as his assets are located in Canada and last year his company started its transition from a pure exploration business to a sustainable mining company; one that is recovering the precious metal locked into refractory ores found in tailings storage facilities and old mine sites such as its Teck-Hughes historic gold mine.
Fulcrum is doing so with the nimble technology of partners Bechtel Energy Technologies & Solutions and Extrakt Process Solutions which are assisting Fulcrum to sustainably extract gold from the tailings. It’s a disruptive process highlighted in the recent research note on the company by Optimo Capital.
“We’ve doubled the recovery rates of gold compared to traditional methods,” says Mee who flags the “significant reduction in leaching times of over 90%.”
He talks about the remarkable results the business is achieving which is attracting a lot of interest from an industry that is struggling to raise the capital to go and explore for primary deposits.
“We’re very confident based on those results that we’ve got two projects there north of 500 million U.S. dollars sat at surface. We know that we can get the gold out. We know that we’ve got a cost-effective way of doing that.”
“No one has been able to unlock this significant lost resource in Canada. What we’re delivering is a very powerful concept and that is very cost effective, very effective in terms of recoveries and something that’s very scalable.”
As Ryan explains to Sarah Lowther in this video interview, Fulcrum is looking to deliver revenues in the shortest timeframe as possible. “The tailings really for us is a way to get to cash flow as soon as possible. We want to limit us going to the market to ask for money. We want to ultimately be paying dividends to shareholders. I’m a big shareholder. I’ve put quite a bit of money in the company, so I treat every dollar, every pound that the company spends as if it’s my own.”
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The author was remunerated but does not hold shares in the company
